https://www.taxtmi.com/caselaws?id=336156 The Tribunal upheld the disallowance under Section 14A of the Income-tax Act, 1961, in a case where the assessee's borrowed funds were mixed with its own funds for investments earning exempt income. The disallowance was computed under Rule 8D of Income-tax Rules, 1962, specifically under Rule 8D(2)(ii) due to the inability to identify the specific use of borrowed funds. The Tribunal affirmed the decision of the lower authorities, dismissing the appeal and confirming the disallowance. en-us Fri, 30 Sep 2016 00:00:00 +0530 Fri, 16 Dec 2016 14:48:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336156 The Tribunal upheld the disallowance under Section 14A of the Income-tax Act, 1961, in a case where the assessee's borrowed funds were mixed with its own funds for investments earning exempt income. The disallowance was computed under Rule 8D of Income-tax Rules, 1962, specifically under Rule 8D(2)(ii) due to the inability to identify the specific use of borrowed funds. The Tribunal affirmed the decision of the lower authorities, dismissing the appeal and confirming the disallowance. Case-Laws Income Tax Fri, 30 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336156